Melrose median real estate price is $243,605, which is less expensive than 75.1% of New York neighborhoods and 63.3% of all U.S. neighborhoods.
The average rental price in Melrose is currently $1,827, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.6% of New York neighborhoods.
Melrose is a suburban neighborhood (based on population density) located in Troy, New York.
Melrose real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Melrose neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Melrose has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.6% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.0%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Troy, the Melrose neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Did you know that the Melrose neighborhood has more Ukrainian and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Ukrainian ancestry and 10.1% have French ancestry.
Melrose is also pretty special linguistically. Significantly, 10.2% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Melrose neighborhood in Troy are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 75.7% of the neighborhoods in America. In addition, 4.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 65.7% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Melrose neighborhood, 37.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.1%), and 16.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
The most common language spoken in the Melrose neighborhood is English, spoken by 96.4% of households. Some people also speak Polish (10.2%).
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Melrose neighborhood in Troy, NY, residents most commonly identify their ethnicity or ancestry as Irish (24.6%). There are also a number of people of Italian ancestry (15.5%), and residents who report German roots (14.6%), and some of the residents are also of French ancestry (10.1%), along with some English ancestry residents (10.0%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Melrose neighborhood spend between 15 and 30 minutes commuting one-way to work (47.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (83.3%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (9.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.